John Major: UK not opposed to free movement, but EU must do more to help limit immigration

first_img whatsapp whatsapp Sarah Spickernell Thursday 13 November 2014 8:51 am Show Comments ▼center_img Share Tags: UK immigration John Major: UK not opposed to free movement, but EU must do more to help limit immigration Later today, former Prime Minister John Major will warn an audience in Germany of the consequences of a split between the UK and the rest of the EU.  Speaking to the supporters of German Chancellor Angela Merkel’s Christian Democrats in Berlin, he is expected to describe the two parties as being “close to a breach that’s not in our interests or theirs”. While pointing out that the UK is not opposed to the principle of free movement, he will say it is unable to continue accepting the number of EU migrants arriving in the country at their current rate. He will emphasise the importance of the bloc helping the UK to limit immigration into the country, since otherwise it will fuel the case for leaving the EU. However, he warned earlier this year that leaving the EU would leave the UK isolated. Current Prime Minister David Cameron has pledged to hold an EU membership referendum in 2017 if he is unable to renegotiate the UK’s position in the bloc before then.  Cameron has faced sharp criticism from MPs who believe independence would be economically detrimental to the UK, but Major has previously said he believes Cameron will succeed in reclaiming powers from Brussels before the referendum date arrives. last_img read more

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Tory veteran David Davis attacks government tax avoidance crackdown as threat to the rule of law

first_img Guy Bentley Share Tags: Autumn Statement 2015 Google Tax whatsapp Tory veteran David Davis attacks government tax avoidance crackdown as threat to the rule of law Show Comments ▼ whatsappcenter_img The government has become the biggest threat to the rule of law, according to veteran Tory backbencher and former minister David Davis.Speaking at a briefing organised by the Taxpayers’ Alliance and the Institute of Economic Affairs (IEA) he slammed the government’s attempts to limit tax avoidance through laws such as the General Anti Avoidance Rule (GAAR) as “pernicious”.  GAAR has received widespread criticism for its retrospective nature. GAAR gives the government the power to decide whether you should pay the amount of tax required by law or whether you must pay more.Davis said there was a serious risk to the rule of law in Britain today coming from the government because these measures fundamentally departed from the conventional understanding of British justice. Furthermore, the undermining of the rule of law in the area of taxation will corrode one the reasons Britain is such an attractive place to invest.”General anti-avoidance legislation means that the HMRC can come back two or three years later and say ‘No you got it wrong, can we have the money back” Davis said.The Tory MP who stood against David Cameron for the leadership of the Conservative party argued that it was the government who was acting as the villain and not multi-national corporations, who had a duty to reduce their tax liability.He said measures like transfer pricing were nothing new and been used as a tax avoidance measure for decades and there were adequate mechanisms to deal with it. However, he added that HMRC was “spectacularly incompetant”.In a barb at the chancellor’s so-called “Google tax” he said critically “if it works, I’d be interested and impressed”.The IEA’s editorial director Philip Booth, concurred with Davis’s analysis:There is a well-established OECD process for dealing with international tax matters which are admittedly complex. That process should continue. However, the government seem to have pre-empted this by implying that somehow there is a category of profits that are “diverted” from the UK in a way that is perfectly accepted according to international conventions and the UK tax code but that should be taxed. Given that matters that are currently subjective (for example, transfer pricing) can be disputed by HMRC, it is very difficult to know what the Treasury might mean.He added:This is a retrospective and arbitrary tax change designed to attack a particular small set of well-identified businesses that are not popular with the public. It will, of course, do little to help the banking sector recapitialise and increase lending. Thursday 4 December 2014 11:21 am More From Our Partners ‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTele Health DaveRemember Pierce Brosnan’s Wife? 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Global markets defiant despite new Greek bank scare

first_img Tags: NULL Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndoBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDUndoVikings: Free Online GameIf you’re over 50 – this game is a must!Vikings: Free Online GameUndoBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderUndo Global markets defiant despite new Greek bank scare Monday 26 January 2015 9:10 pm whatsapp Express KCS Global markets yesterday brushed off the result of the Greek election despite the country’s banks becoming embroiled in a potential crisis.Shares in all four of Greece’s largest banks plunged by around 10 per cent yesterday. If Greece defaults on its debt this will hit Greek banks directly – who hold some Greek debt – as well as prevent them accessing emergency funding from the European Central Bank.Analysts at Moody’s note that depositors have been shifting money out of Greek banks in the run up to the election. According to Moody’s figures, nearly five per cent of private sector deposits have been moved since the election was announced, albeit lower than the nine per cent that was moved during the 2012 election. Withdrawals are expected to go on until negotiations conclude.Headline share indices – which represent the value of a collection of shares – such as the UK’s FTSE 100, the German Dax and the French Cac40 – all registered gains yesterday, the first day of trading since anti-austerity Syriza won Sunday’s general election. Stocks in the US such as the Dow Jones Industrial Average and the Nasdaq also began trading relatively unfazed and closed on a positive. Stocks in Athens have been dropping since the snap election was announced in December and are 20 per cent lower than their December peak. Other headline stock indices in Eurozone countries are well above their early December levels. It is not clear how negotiations on Greece’s debt will play out. These negotiations have a variety of possible conclusions ranging from the new government accepting the terms of its creditors and carrying on as the old government did, to a default on the country’s debt and exit from the euro. Show Comments ▼ whatsapplast_img read more

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Spotify hires Goldman Sachs in hopes of raising $500m

first_img Show Comments ▼ Spotify is hoping to raise more cash and has hired the world’s most famous investment bank Goldman Sachs to do it.The music streaming company has probably delayed its long-awaited public listing by pursuing this round of financing. Spotify has said it wants to raise $500m. The financing would value Spotify near $6bn people familiar with the matter said. They added that Spotify was in discussion with investors who usually shell out cash to companies that are preparing for their initial public offerings.Spotify achieved significant growth in revenue in 2014 however monthly revenue per user has declined for both subscription and advertising. Spotify has 60m active users, 15m of whom are paying subscribers.At the tail end of 2013 Spotify raised $250m valuing the company at $4bn. But it continues to lose money posting net losses of $80m. The company had something with a bust up with artists Taylor Swift after she withdrew her albums from the service.Her decision to leave the service coincided with the release of her new album “1989”, the fastest selling in the US since 2002. Spotify’s brand took a hit after falling out, with polling company YouGov’s BrandIndex data showing the company’s buzz score (whether a respondent has heard anything positive or negative about a brand) falling from 5.6 to 3.2.  Read This NextYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily Proof Thursday 29 January 2015 6:03 pm whatsapp Share whatsapp Jeff Misenti Spotify hires Goldman Sachs in hopes of raising $500m Tags: Goldman Sachs Spotifylast_img read more

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Aggregates firm CRH lifts FTSE as oil drama goes on – London Report

first_img Tags: Company CRH FTSE 100 Express KCS whatsapp Irish building supplies groups CRH offset a drop in airlines after Ryanair warned on its profit outlook to push the FTSE index higher yesterday.Shares in CRH, one of the top gainers in the FTSE 100 index , rose 7.2 per cent after the company said it had agreed to pay €6.5bn (£4.9bn) for assets that Lafarge and Holcim need to sell to secure regulatory approval for their planned merger.CRH, the leading producer of asphalt for road building in the US, said the deal would expand its reach and make it the largest building supplier in central and eastern Europe.“CRH has a history of acquisition and successfully integrating businesses into its operations. This deal will be large, adding 26 percent to our expected sales figure for 2014,” Cantor Fitzgerald analyst Ian Osburn said.The FTSE 100 index closed up 33.15 points yesterday, or 0.5 per cent at 6,782.55 points, after closing 0.9 per cent lower on Friday.Budget airlines came under pressure after Ryanair, Europe’s largest airline by passenger numbers, said profit growth would be modest next year as low oil prices helped rivals step up competition.The low-cost carrier fell 6.1 per cent, despite again raising its profit forecast. It said it would benefit only slightly from lower jet fuel costs this year because it has hedged 90 per cent of its fuel needs at $92 per barrel up until March 2016.While Ryanair is not a FTSE 100 member, airlines EasyJet and IAG were the top fallers on the index, losing 6.4 per cent and 2.8 per cent, respectively.“Ryanair has always had particular difficulty hedging its oil. It’s very difficult to hedge when you’re not sure where the bottom is, but I think other airlines are in the same boat,” said Brenda Kelly at IG.Oil volatility hit energy stocks again in yesterday’s trading, with the sector up 3.3 per cent, following an eight per cent jump in oil on Friday on a record weekly drop in US oil drilling. They reversed an early fall to gain yesterday.Tullow Oil surged 9.3 per cent, set for its biggest rise since 2011 to become the top FTSE 100 gainer, but remains down more than 50 per cent since last June.Oil firm Afren closed nearly 90 per cent higher in strong volume after lenders agreed to defer a $50m amortisation payment by a month, saying it would also delay the payment of a $15m bond coupon by a month. Monday 2 February 2015 8:09 pmcenter_img whatsapp Show Comments ▼ Share Aggregates firm CRH lifts FTSE as oil drama goes on – London Report last_img read more

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Serco sells luxury Australian rail service Great Southern Rail to Allegro

first_img whatsapp Show Comments ▼ Serco sells luxury Australian rail service Great Southern Rail to Allegro whatsapp Emma Haslett Sharecenter_img Monday 30 March 2015 3:03 am Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.com Serco, the troubled outsourcer run by Rupert Soames, has extricated itself from Great Southern Rail, it announced this morning.The company said it will sell the “luxury” long-distance rail service to Australian private equity firm Allegro for £2.5m. Earlier this month shares in the outsourcer fell as much as 16 per cent after it posted figures showing full-year revenue had fallen to £3.95bn, down from £4.28bn a year earlier. Losses also widened, to £1.35bn, compared with a profit of £146m. Having issued two profit warnings last year, and after its role in the criminal tagging scandal, the company is narrowing its focus.This morning Soames said Serco “needs to concentrate on its core as a leading supplier of public services and we cannot provide the focus and investment [Great Southern Rail] needs to survive”. We will continue to build a strong transport business where Serco’s capabilities can be deployed and transferred internationally, and our recent contract award to support the new North South Railway in Saudi Arabia is testament to the progress we are making. Tags: Company Serco Grouplast_img read more

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Singapore-style maths lessons could add £200 a year to students’ salaries

first_img Sarah Spickernell Thursday 18 June 2015 9:46 am whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment GuruMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunEliteSinglesThe Dating Site for Highly-Educated Singles in ScottsdaleEliteSinglesTotal Battle – Tactical Game OnlineThe Most Addictive Strategy Game of 2021Total Battle – Tactical Game Onlinezenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorLearn It WiseAfter Losing 70lbs Susan Boyle Is So Skinny Now She Looks Like A ModelLearn It Wise Share Singapore-style maths lessons could add £200 a year to students’ salaries whatsapp Show Comments ▼ A maths programme used in Singaporean schools could add hundreds of pounds a year to British students’ salaries once they hit the workforce, according to research by the UCL Institute of Education and the University of Cambridge. The “Maths Mastery” programme focuses on fewer topics but goes into more depth than the programmes used in British schools, and has been shown to improve overall mathematical ability. For years, Singapore has excelled far beyond the UK in terms of maths. The researchers tested it out in a selection of English schools, and after just one year they could see improvements beyond what was normal for the country.  The impact of higher maths scores at age 10 on salary at ages 26, 30, 34 and 38 was estimated using data from the British Cohort Study, and in all cases the gains made, both for the individual and the economy, far exceeded the cost of implementing the new system in the first place.  Overall, it was found to result in an average wage increase of between £100 and £200 each year once the person began working. The report suggests adopting the programme nationwide would lead to a good return on investment further down the line. “Even a small enhancement of maths skills at age 10 yields long-term economic benefits for individuals and the economy,” it says. Tags: NULLlast_img read more

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In pictures: The last of the BBC’s landmark satellite dishes has been taken down at the former Television Centre in White City

first_img Friday 26 June 2015 7:20 am In pictures: The last of the BBC’s landmark satellite dishes has been taken down at the former Television Centre in White City The last of the 20 iconic satellite dishes at the BBC’s former Television Centre in White City has been taken down as part of the site’s redevelopment. Read more: BBC sells White City site for £87m to Stanhope and Japanese firm Mitsui Fudosan The dishes, which became a West London landmark for decades, were used by the BBC to receive and broadcast news both in the UK and beyond. The final dish to be removed, 11 metres in diameter, was used to distribute programming in the UK. The BBC will still have some offices at the site (Source: Mike O’Dwyer) From now on, the BBC will broadcast using its eight dishes at a new satellite farm elsewhere, while the current site will be turned into a mix of office and television studio space for the BBC, alongside 950 new homes, offices, cafes, restaurants and a gym.  There were originally 20 dishes at the site (Source: Mike O’Dwyer) A new branch of private members’ club Soho House will also be opened in the building, including a restaurant, hotel and roof-top pool.  Developer Stanhope is carrying out the project, with the first phase due to be opened in 2017.  Alistair Shaw, managing director of Television Centre, said: We took the decision early on to do something very different at Television Centre to reflect the creative history of this iconic site.  White City is changing and Television Centre will be at the heart of this exciting regeneration, a new centre of gravity for London with its own sense of place. whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment GuruMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesComedyAbandoned Submarines Floating Around the WorldComedyzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorEliteSinglesThe Dating Site for Highly-Educated Singles in ScottsdaleEliteSingles whatsapp Sarah Spickernell Show Comments ▼ Tags: NULLlast_img read more

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China introduces new rules for brokerages to combat stock market rout

first_img China introduces new rules for brokerages to combat stock market rout Show Comments ▼ whatsapp whatsapp Joe Hall Tags: Chinese economycenter_img Share China’s regulator for securities has issued new rules for brokerage firms as part of its attempt to stabilise markets following a spate of sell-offs that wiped trillions of dollars worth of value from Chinese equities.Read more: How China has tried to calm stock market chaos The China Securities Regulatory Commission (CSRC) has instructed brokerages to provide stricter proof of identification on holders of securities accounts to prevent investors controlling or sharing multiple accounts.Investors will have to provide their real names and national ID numbers as part of the new rules.In a statement the CSRC said:Some institutional or individual investors hold ‘virtual’ securities accounts or trade with borrowed accounts. As real-name registration is required by the law, this illicit conduct may damage other investors’ legitimate interests.The government of the world’s second-largest economy has issued a series of other measures to combat serious hemorrhages on the Shanghai Stock Exchange resulting in losses exceeding the GDP of France and Mexico.Initial public offerings have been suspended and shareholders with five per cent or more of a company’s stock have been banned from selling for six months in a bid to stablise the market. Sunday 12 July 2015 12:48 pmlast_img read more

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Jury sent out to consider verdict in Tom Hayes libor-rigging trial

first_img Show Comments ▼ Wednesday 29 July 2015 11:57 am whatsapp The jury has been out to consider the verdict in the trial of former trader Tom Hayes who is accused of attempting to manipulate the Libor rate.The former UBS and Citigroup yen derivatives trader, who is 35, denies eight charges of conspiracy to defraud between August 2006 and September 2010. Prosecutors have branded Hayes “greedy” and said he masterminded a conspiracy with 25 staff from at least 10 banks and brokerages to submit false numbers into the Libor system, to suit their trading positions.In return for boosting his profits, the SFO said that brokers would receive kickbacks such as extra business to boost their fee income.Hayes is the first person to stand trial on charges of alleged manipulation of the London interbank offered rate, or Libor, used to price an estimated $450 trillion (£288 trillion) of financial contracts worldwide.He was initially arrested back in December 2012 as part of the SFO’s investigation into the manipulation of the libor rate, used to calculate the repayment rates for things such as student loans and mortgages. Jury sent out to consider verdict in Tom Hayes libor-rigging trial whatsapp Tags: Libor rate-fixing scandal People Tom Hayes Share More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Jessica Morris last_img read more

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